The Pakistan Super League franchise Multan Sultans has been sold for a record Rs 2.45 billion to media, technology, and financial company Wali Technologies.
According to sources, during the auction held on Monday, host Fakhr e Alam informed bidders that the winning amount would also cover the annual franchise fee and would grant ownership rights to the successful bidder for the next 10 years.
Sources said that while addressing the ceremony, Wali Technologies Chief Executive Officer Ahsan Tahir announced that the franchise would be rebranded and the team would be renamed Rawalpindi. Pakistan Cricket Board Chairman Mohsin Naqvi congratulated Wali Technologies on the successful bid and paid tribute to former chairman Najam Sethi, who introduced the franchise concept.
According to sources, Mohsin Naqvi said that the franchise was created by Najam Sethi, who initiated this journey, and expressed happiness that he was present at the event. On the occasion, Najam Sethi described the development as the realization of a long held vision. He said he was pleased to be there and called it the fulfillment of a dream, especially expressing happiness that the change took place during Mohsin Naqvi’s tenure.
Sources said Najam Sethi termed the record breaking bid a major milestone for Pakistan cricket and hinted that further positive developments, beyond the PSL, may be announced in the coming days.
PSL Franchise Multan Sultans Sold for Record Rs 2.45 Billion
